JimBinMI
Veteran Member
- Joined
- Apr 6, 2000
- Messages
- 1,018
- Location
- Coldwater, Michigan
- Tractor
- 2014 Kubota BX25D-1, 2014 Kubota BX1870
Read this at iwon.com just now, just thought I'd share it for our Green friends on the board. Doesn't sound good for CNH right now...but it might be time to buy some of their stock since it's down right now! Hmmmmmmmmmm? /w3tcompact/icons/smile.gif
Deere Net Income More Than Doubles
August 15, 2000 9:50 am EST
MOLINE, Ill. (Reuters) - Farming, construction and lawn-care equipment giant Deere & Co. (DE.N) on Tuesday said net income more than doubled in its fiscal third quarter and easily beat analysts' estimates, driven by higher sales and production volumes.
Net income was $172.4 million, or 72 cents per diluted share, up from $68.9 million, or 29 cents a share, a year ago, when results were hurt by depressed demand for farm equipment amid the lowest commodity prices in years. Worldwide net sales and revenues rose to $3.63 billion from $3.04 billion last year.
Analysts' consensus earnings estimate was 59 cents a share, according to market research firm First Call/Thomson Financial.
Deere's business has been helped in recent months by problems at its largest farm equipment competitor, CNH Global NV (CNH.N), which is struggling to combine Case Corp. and New Holland NV, the two companies that joined last year to form CNH.
JimBinMI
We boys and our toys!
Deere Net Income More Than Doubles
August 15, 2000 9:50 am EST
MOLINE, Ill. (Reuters) - Farming, construction and lawn-care equipment giant Deere & Co. (DE.N) on Tuesday said net income more than doubled in its fiscal third quarter and easily beat analysts' estimates, driven by higher sales and production volumes.
Net income was $172.4 million, or 72 cents per diluted share, up from $68.9 million, or 29 cents a share, a year ago, when results were hurt by depressed demand for farm equipment amid the lowest commodity prices in years. Worldwide net sales and revenues rose to $3.63 billion from $3.04 billion last year.
Analysts' consensus earnings estimate was 59 cents a share, according to market research firm First Call/Thomson Financial.
Deere's business has been helped in recent months by problems at its largest farm equipment competitor, CNH Global NV (CNH.N), which is struggling to combine Case Corp. and New Holland NV, the two companies that joined last year to form CNH.
JimBinMI
We boys and our toys!
